Mark Carney remains Governor of Bank of England until June 2019

Mark Carney remains Governor of Bank of England (BoE) until June 2019, which is one year longer than planned. In recent weeks, there was speculation that Carney will leave the institution in 2018, or will complete its full term until 2021.

In a letter to Finance Minister Philip Hammond, Mark Carney stated that he was honored to be the manager of the bank longer than were the original intentions. Moreover, he expressed the hope that this decision will contribute to ensuring a controlled transition to the new relations of Britain and Europe. Philip Hammond on his turn welcomed the very effective leadership of BoE Governor and his desire to remain at the forefront of the institution during the critical period for the British economy.

In mid-2019 the two-year negotiations for British leaving from EU are expected to be completed. Staying until then, the central bank governor Mark Carney will remain as the key figure for the British economy out of politics, which will need to maintain financial stability in the negotiations with Brussels.

Meanwhile, British Prime Minister Theresa May publicly supported Mark Carney to remains Governor of Bank of England. The Prime Minister clearly expressed her support for the governor and the work that he is doing.